Newbie from Northern CA but moving to Fargo ND

Newbie from Northern CA but moving to Fargo ND

Fargo, ND · Member since 2014 · 98 posts · 26 votes

Hello BP Family! I have been reading through some of the BP posts for a few months now trying to learn and soak up as much information as I can. I have one property (first home we bought in 2005) that we just put on the rental market because it's underwater on the mortgage. We didn't want to just walk away and mess up our credit. I think as soon as we break even, we're going to sell it because of the stupid HOA rules (we were lucky the HOA is letting us rent it!).

We bought another home this summer that we thought we would be staying in for a few years, but my job is taking me to Fargo; so, we might be renting that home next year (I'll be adding another post later because I do have questions about renting that one out). 

I am looking forward to my move to Fargo to start my RE Investing lifestyle, but it's going to be a challenge because I need to get the "better half" on board because she HATES risk. I really do not have anything to offer to the BP community right now, but I have the eagerness and time to learn! Cheers!!

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Investor · Vergas, MN · Member since 2014 · 54 posts · 9 votes
11y
  1. Welcome to Fargo!  Lived there for ever. The market in North Dakota does the complete opposite of the rest of the country.  When California is doing poorly, We do great, so keep an eye on California, if the economy is improving there, the economy will slow down here. The market is at an all time high right now, its very hard to find a bargain, so do your research. There is a meetup group that started a while back, we have about 20- 30 members that meet and talk real estate.
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  • Investor · Vergas, MN · Member since 2014 · 54 posts · 9 votes
    11y
    1. Welcome to Fargo!  Lived there for ever. The market in North Dakota does the complete opposite of the rest of the country.  When California is doing poorly, We do great, so keep an eye on California, if the economy is improving there, the economy will slow down here. The market is at an all time high right now, its very hard to find a bargain, so do your research. There is a meetup group that started a while back, we have about 20- 30 members that meet and talk real estate.
  • Fargo, ND · Member since 2014 · 98 posts · 26 votes
    11y

    @LuAnn Vigen Thanks for the info. I have been passively looking on Zillow and Trulia and I noticed property prices from 2 years ago were much lower than today's prices. I did sign up for a Fargo RE meet up, so I'm hoping to attend one within the next couple of months.  = )

  • Jon HuberPro Member
    Rental Property Investor · Boca Raton, FL · Member since 2014 · 1k+ posts · 713 votes
    11y

    @Eric Mauricio   Welcome to the community! Now get active. Read blogs, ask questions, and I highly suggest a podcast marathon. Good luck!

  • Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
    11y

    @Eric Mauricio 

    welcome to the site.

  • Fargo, ND · Member since 2014 · 98 posts · 26 votes
    11y

    @Jon Huber @James Wise - Thank you very much! I have listened to approx. 5 podcasts thus far and they are great. I plan on becoming very active in the forums soon when I do make my move to Fargo.

  • Fargo, ND · Member since 2014 · 98 posts · 26 votes
    11y

    @Jon Huber - I just read your RE goals and saw your new goal of wanting to be on the BiggerPockets podcasts. It's funny because that's one of my goals, too! It dawned on me a couple days ago after listening to a couple podcasts back-to-back. Hopefully we'll be there soon…Good Luck!!

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    Welcome to Biggerpockets!

    We are buy and hold investors. We have done very well self-managing our property from all over the country. My husband is active duty navy so we move alot. Although managing from afar certainly has had moments :) It has been VERY beneficial for business plan and pocket book. Let me know if I can help at all.

    This is a great site because there are tons of different "Strategies". We are buy and hold, others are wholesalers, bird dog, flippers etc. Look around the blogs, forums and listen to the podcasts. If you see a post you enjoy check out the persons signature. Many of us including myself talk about our strategies, styles, niches and business model on our website. So definitely check that out as it is an amazing additional resource. For example, my blog is about while working full time, buy and hold investing, 0% Down Rentals, Personal Properties turned rentals, Long distancing investing, self-managing 3,000+ miles away.

    Look forward to seeing you around! PM me if I can help! :)

  • Fargo, ND · Member since 2014 · 98 posts · 26 votes
    11y

    @Elizabeth Colegrove  - Thank you! I am settling here in Fargo now and have been passively looking for some RE deals. Needless to say it is A LOT cheaper here than CA...not to mention A LOT colder (it's currently -6 degrees outside as I'm typing!). I'm hoping to purchase a property before summer next year. I subscribed to your website and am looking forward to learning more from it along with the BiggerPockets community.  = )

  • Hanford, CA · Member since 2013 · 5k+ posts · 1k+ votes
    11y

    @Eric Mauricio 

    Glad you like it :)

  • Urbana, IL · Member since 2012 · 1k+ posts · 425 votes
    11y

    Eric, welcome to Fargo; stay because your car won't start.

    Glad to see you joined the meetup group. The announcement for the next one should be coming out shortly. It would be a great way for you to meet some of us in the community. 

    When you get to town feel free to contact me and we can meet over coffee or something similar.

  • Fargo, ND · Member since 2014 · 98 posts · 26 votes
    11y

    @Steven J. Hahaha! You're not lying about my car not starting. It's struggling to start in the morning...I think it misses CA like me! I am looking forward to the meetup soon. I recently bought J Scott's book on Flipping Houses and was wondering if flipping is good in this area. I see your number and will definitely contact you. Looking forward to meeting you and everyone else! 

  • Brandon TurnerPro Member
    Investor · Maui, HI · Member since 2009 · 13k+ posts · 3k+ votes
    11y

    Hey @Eric Mauricio welcome to BiggerPockets! You've definitely come to the right place to learn more about investing. If you haven't yet, be sure to check out the The Ultimate Beginner's Guide to Real Estate Investing and The BiggerPockets Podcast. They are both great at learning the fundamentals.

    Oh - and don't forget to set up your Keyword Alerts!

    See you around the site!

  • Fargo, ND · Member since 2014 · 98 posts · 26 votes
    11y

    @Brandon Turner I appreciate the welcome! I'm so glad I found this site and I actually did do a podcast marathon on my drive from CA to ND. I also bought J Scott's book on Black Friday so thanks for that wonderful deal! Keep doing what you're doing because this has been a tremendous resource for rookies like me. I hope I can be a guest on your podcast one day. Cheers!! 

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